The Los Angeles Lakers have been sold for a record $12.5 billion to a group led by Bob Iger, executive chairman of The Walt Disney Company, and Joshua Kushner, founder of Thrive Capital. This whirlwind transaction occurred just 14 months after Mark Walter had agreed to purchase the team for $10 billion.
A Swift Transition
The deal came together with remarkable speed, reportedly over a three-day period. Iger and Kushner were initially exploring an NBA expansion team in Las Vegas through Thrive Eternal, a capital holding company. However, the opportunity to acquire the Lakers emerged, prompting an immediate pivot. "The deal came together in three days. It’s that simple," Iger told the California Post. He noted that the iconic nature and value of the franchise made it a compelling pursuit.
Questions Surrounding Walter's Sale
The reasons behind Mark Walter's decision to sell the Lakers so soon after his acquisition remain unclear. While the sale represents a $2.5 billion profit, speculation has arisen regarding potential investigations into insurance companies he owns by the U.S. Attorney’s Office for the Southern District of New York and the Securities and Exchange Commission. Bloomberg reported that Walter's holding company, TWG Global, was seeking capital to reduce loans associated with these insurance companies. Despite this transaction, Walter is not expected to sell the Los Angeles Dodgers, which his ownership group acquired in 2012.
Impact on Players and Personnel
The rapid ownership changes have been a dizzying experience for Lakers star Luka Doncic. Traded to the team in February 2025, Doncic has now seen two ownership shifts. He was reportedly involved in the team's offseason roster revamping, including the acquisition of center Walker Kessler. Doncic, who signed a contract extension in August 2025, expressed his commitment to the team, stating, "Being a Laker means everything to me, and I’m excited to get back on the court and bring a championship to LA." He added that he looks forward to meeting the new owners to "build something special in LA together."
Iger has also spoken with Lakers coach JJ Redick, whom he has known for some time. The status of Lakers president of basketball operations and general manager Rob Pelinka remains uncertain, as it is unclear if Iger has spoken with him yet. Pelinka has been with the franchise for nine years.
Jeanie Buss's Role and Kushner's Ownership
Jeanie Buss is expected to remain as the Lakers' governor. She had an agreement with the previous ownership, Mark Walter, to serve in this capacity for at least five years, and Iger intends to honor that arrangement. "We have enormous respect and appreciation for Jeanie, her father and what they’ve contributed to this franchise," Iger stated, emphasizing his intention to honor the existing agreement.
Joshua Kushner, who previously held minority ownership stakes in the Memphis Grizzlies and the Miami Heat, will be required to sell his share in the Heat before officially taking over his role with the Lakers. This move ensures compliance with NBA ownership rules.
